Swiss National Bank Sells 4,300 Shares of The Macerich Company (NYSE:MAC)

Swiss National Bank lowered its stake in shares of The Macerich Company (NYSE:MAC) by 1.0% during the third quarter, HoldingsChannel reports. The fund owned 421,115 shares of the real estate investment trust’s stock after selling 4,300 shares during the quarter. Swiss National Bank’s holdings in Macerich were worth $7,681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MAC. Price T Rowe Associates Inc. MD increased its position in Macerich by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 147,656 shares of the real estate investment trust’s stock worth $2,545,000 after acquiring an additional 7,957 shares during the period. Caxton Associates LP bought a new position in Macerich during the first quarter worth $472,000. DekaBank Deutsche Girozentrale boosted its stake in Macerich by 158.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock worth $2,201,000 after buying an additional 80,541 shares in the last quarter. Vanderbilt University boosted its stake in Macerich by 121.5% during the second quarter. Vanderbilt University now owns 80,095 shares of the real estate investment trust’s stock worth $1,237,000 after buying an additional 43,942 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC boosted its stake in Macerich by 297.7% during the second quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock worth $1,707,000 after buying an additional 82,760 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Macerich Stock Performance

Macerich stock opened at $20.32 on Tuesday. The stock has a 50-day simple moving average of $18.46 and a 200 day simple moving average of $16.41. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 12-month low of $10.75 and a 12-month high of $20.42. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 52.10, a P/E/G ratio of 0.67 and a beta of 2.50.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business had revenue of $220.20 million during the quarter, compared to the consensus estimate of $208.54 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts anticipate that The Macerich Company will post 1.59 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.35%. Macerich’s dividend payout ratio is 174.36%.

Wall Street Analyst Weigh In

MAC has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research note on Thursday, September 19th. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price target on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Bank of America lifted their price target on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Finally, Piper Sandler lifted their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 3rd. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Macerich presently has an average rating of “Hold” and an average target price of $16.40.

Macerich Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.